Sequim Food Bank

Analysis

Sequim Food Bank is a registered charity in United States, based in Sequim, WA. It received its IRS tax-exemption ruling in March 1984, 42 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Sequim Food Bank reported income of $2.2m and spending of $2.0m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $985k to $2.2m (+119%), an average of +22% a year. The sharpest change came in the year to December 2020, when income rose by 206%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sequim Food Bank sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within WA. Charities of a similar size with the same main cause include Cook Inlet Aquaculture Assoc ($2.2m), Child & Family Resources Inc ($2.2m) and Massachusetts Association of Community Development Corporation ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $83k (4.1% of expenses). Other salaries and wages came to $197k. At year end it held assets of $1.8m against liabilities of $46k, net assets of $1.7m. It reported 14 employees.